Quadrature Capital Ltd Trims Holdings in Unity Bancorp, Inc. (NASDAQ:UNTY)

Quadrature Capital Ltd decreased its stake in shares of Unity Bancorp, Inc. (NASDAQ:UNTY – Get Rating) by 25.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,539 shares of the financial services provider’s stock after selling 4,355 shares during the quarter. Quadrature Capital Ltd’s holdings in Unity Bancorp were worth $313,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Banc Funds Co. LLC lifted its position in Unity Bancorp by 13.0% during the second quarter. Banc Funds Co. LLC now owns 894,342 shares of the financial services provider’s stock worth $23,682,000 after buying an additional 102,972 shares in the last quarter. Fourthstone LLC lifted its position in Unity Bancorp by 45.0% during the first quarter. Fourthstone LLC now owns 481,355 shares of the financial services provider’s stock worth $13,468,000 after buying an additional 149,358 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Unity Bancorp by 3.0% in the third quarter. Dimensional Fund Advisors LP now owns 400,959 shares of the financial services provider’s stock valued at $10,068,000 after purchasing an additional 11,855 shares during the period. FMR LLC raised its position in Unity Bancorp by 33.8% in the second quarter. FMR LLC now owns 182,092 shares of the financial services provider’s stock valued at $4,821,000 after purchasing an additional 45,952 shares during the period. Finally, River Oaks Capital LLC raised its position in Unity Bancorp by 0.6% in the third quarter. River Oaks Capital LLC now owns 95,000 shares of the financial services provider’s stock valued at $2,385,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 49.07% of the company’s stock.

Unity Bancorp Price Performance

UNTY stock opened at $24.34 on Monday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $256.79 million, a PE ratio of 6.78 and a beta of 1.00. Unity Bancorp, Inc. has a 12-month low of $23.85 and a 12-month high of $30.00. The business’s fifty day moving average price is $26.50 and its 200 day moving average price is $27.04.

Unity Bancorp (NASDAQ:UNTY – Get Rating) last posted its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.07). Unity Bancorp had a net margin of 35.35% and a return on equity of 17.32%. The firm had revenue of $26.66 million during the quarter, compared to analysts’ expectations of $25.60 million. On average, sell-side analysts anticipate that Unity Bancorp, Inc. will post 3.93 EPS for the current year.

Unity Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.97%. This is an increase from Unity Bancorp’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, March 9th. Unity Bancorp’s payout ratio is presently 13.37%.

Insider Buying and Selling at Unity Bancorp

In other Unity Bancorp news, CFO George Boyan acquired 2,150 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were acquired at an average cost of $25.29 per share, for a total transaction of $54,373.50. Following the transaction, the chief financial officer now directly owns 5,181 shares of the company’s stock, valued at $131,027.49. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Unity Bancorp news, CFO George Boyan purchased 2,150 shares of the business’s stock in a transaction on Thursday, March 9th. The stock was bought at an average cost of $25.29 per share, for a total transaction of $54,373.50. Following the acquisition, the chief financial officer now owns 5,181 shares of the company’s stock, valued at approximately $131,027.49. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donald E. Jr. Souders sold 1,773 shares of the business’s stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $27.00, for a total transaction of $47,871.00. Following the completion of the sale, the director now owns 14,365 shares of the company’s stock, valued at $387,855. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,967 shares of company stock valued at $831,825. Insiders own 32.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on UNTY shares. TheStreet downgraded Unity Bancorp from a “b” rating to a “c+” rating in a research report on Wednesday, February 1st. Janney Montgomery Scott started coverage on Unity Bancorp in a research report on Thursday, December 15th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, StockNews.com downgraded Unity Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 6th.

About Unity Bancorp

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Unity Bancorp, Inc is a bank holding company, which engages in the ownership and supervision of Unity Bank. The firm accepts personal and business checking accounts, time deposits, money market accounts, regular savings accounts, and demand and savings deposits. Its loan portfolio comprises credit cards, mortgage, home equity, and personal loans.